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Second wave of COVID-19 may weaken India’s economic recovery- Moody’s

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Moody’s Investors Services said on Tuesday that the second wave of Corona virus infection in India poses a risk to growth forecast of 13.7 per cent for FY22.

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The second wave of corona virus infection in the country is increasing rapidly. In such a situation, concern has increased about the pace of economic reform. Moody’s Investors Services said on Tuesday that the second wave of Corona virus infection in India poses a risk to growth forecast of 13.7 per cent for FY22 as measures re-implement measures to prevent virus infection Doing this will curb economic activity and may hit the market and consumer sentiments.

Moody’s further said that the steps taken till the end of April to stop the second wave can weaken the economic recovery. However, advances in prevention measures and vaccination will reduce the credit-negative effect. Let us know that more than one lakh cases of COVID have been reported in India for the eighth consecutive day. The case of active corona has crossed 10 lakhs.

These steps taken to stop the spread of virus

Several states including Maharashtra, Delhi, Chhattisgarh, Punjab and Haryana have cut the night curfew, partial lockdown and working hours to prevent the spread of the virus. In March, both manufacturing and service PMI declined, reflecting the initial impact of increases in transition.

International Financial Funding (IMF) has raised India’s GDP from 11.5 per cent to 12.5 per cent in FY 2021-22, relying on India’s growth. But be warned that there is no forecast of serious downside risks arising from the second wave of COVID-19 running in the country.

read this also- During the Corona period, this pharma company gave a bumper return, 10 thousand rupees 15 lakh rupees in 6 months.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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